Tidewater (NYSE:TDW) Upgraded at StockNews.com

Tidewater (NYSE:TDW) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Separately, Raymond James lifted their target price on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $111.25.

Tidewater Stock Down 1.1 %

Shares of NYSE:TDW traded down $0.76 during midday trading on Friday, reaching $71.24. The company had a trading volume of 1,042,428 shares, compared to its average volume of 871,088. The stock’s fifty day moving average price is $82.06 and its 200-day moving average price is $92.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. Tidewater has a one year low of $54.53 and a one year high of $111.42. The stock has a market capitalization of $3.74 billion, a P/E ratio of 28.38 and a beta of 1.13.

Tidewater (NYSE:TDW) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The firm had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same period last year, the firm posted $0.46 earnings per share. Equities research analysts expect that Tidewater will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position in shares of Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the period. Quarry LP purchased a new position in Tidewater during the second quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Tidewater in the 1st quarter valued at approximately $28,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Tidewater in the 2nd quarter valued at $30,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.